Oceanfront spec mansion on Palm Beach’s Billionaires’ Row trades for $57M
Stock Custom Homes of Naples sold the 12K sf estate
Naples homebuilder Stock Development sold an oceanfront spec mansion in Palm Beach for $57 million.
An affiliate of Stock Custom Homes, a division of the builder, sold the 12,427-square-foot, eight-bedroom estate at 916 South Ocean Boulevard to MAWA 916 LLC, a company managed by Louis L. Hamby III, an attorney and shareholder with Alley, Maass, Rogers & Lindsay. The true buyer is unknown.
The mansion, designed by Dailey Janssen Architects, with interiors by Marc-Michaels Interior Design, sits on a 0.8-acre lot on Billionaires’ Row.
Records show the developer paid $12 million for the Palm Beach property in 2017. It includes a sliver of beachfront land across South Ocean Boulevard. The main estate is on the west side of the street.
The house hit the market in 2020, a year before it was completed, for $59 million, according to Realtor.com. Carol Sollak with Engel & Völkers Wellington was the listing agent, while Christian Angle with Christian Angle Real Estate represented the buyer.
The property has a front and rear loggia, center courtyard, pool deck, tunnel access to the beach portion and another pool fronting the ocean, according to the listing.
The deal closed on Dec. 30, making it one of the top 10 single-family home sales in Palm Beach last year and one of the top deals of the year in South Florida. The majority of the top 10 South Florida home sales last year, as of mid-December, were in Palm Beach County, led by a nearly $123 million sale of a Mark Pulte-built spec home at 535 North County Road.
Some recent deals that didn’t make the top 10 but closed in the last couple of months include the $35.6 million sale of the renovated and non-waterfront home at 134 El Vedado Road to a New York private equity chief; and the $41 million sale of the oceanfront spec mansion at 1700 South Ocean Boulevard. Angle, a top broker in Palm Beach, also represented the buyer in the latter deal.